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20121220
20121220
STATION
KQED (PBS) 1
LANGUAGE
Search Results 0 to 0 of about 1
PBS
Dec 19, 2012 4:00pm PST
from new york. a is by words and -- by far the worst offender, but it is not the only one. can we expect more revelations? >> we can expect more. a dozen or more involved in one way or another, and u.b.s. was working in concert with a number of brokers, so this is a huge scandal, and so far we have only had the dell's from two banks -- barkley's and u.b.s. and -- had details from two banks -- barclays and u.b.s.. what we thought was a scandalous tale, u.b.s. is making it look like nothing, so who knows what might be coming next? >> we hear a lot of jargon, but what does this mean for us? what impact does it have on our ability to get mortgages and car loans and things like that? >> basically none. the manipulations were small. traders would make for a rate go up or down a bit, just a few hundredths of a percentage point. that could make millions of dollars in trading. , so what they did is they made your mortgage a little bit more cheaper or a little more expensive. it probably even out. in the end there was a systemic attempt to lower interest rates, so if you were a borrower you
Search Results 0 to 0 of about 1